Hargreaves Lansdown has reported a 16% fall in net new business inflows despite continued growth in clients, assets and profits for the six months to 31 December, while it is also gearing up for further fund launches.
In the firm's interim results, which cover the six months immediately after the Brexit vote in June and include other political events such as the US election, Hargreaves Lansdown reported net new business inflows of £2.34bn, down from £2.77bn for the same period the previous year.
But the company also saw its profit before tax rise 21% to £131m for the half-year, while its net revenue was up 16% on the previous year at £185m.
At the same time, the group also revealed its plans to launch an income version of the recently launched HL Select UK Shares fund, which has already raised £168m, as well as other launches planned in 2017.
Hargreaves Lansdown chief executive Ian Gorham (pictured) said: "We expect to launch further funds in 2017 including the HL Select UK Income Shares fund.
"This strategy will continue until we are satisfied demand for funds from clients is materially covered across sectors, without creating sub-scale funds."
The latest results are Gorham's last before he steps down from the role, to be replaced by Chris Hill, though he will remain at the company as a employee until 30 September.
The results come after a time Hargreaves called "unusual in that it encompassed the effects of various political and macroeconomic developments".
It said the immediate effect of the UK's vote to leave the European Union on 23 June was significantly elevated equity trading levels compared to the prevoius year, and which persisted over the period.
Gorham said: "Hargreaves Lansdown saw 1.95 million client driven equity deals in the period, up 51% [on the previous six month's 1.29 million deals], and market share increased to 28%.
"A weak pound has served to boost the value of client assets invested in overseas funds and equities and key stockmarkets have also performed well."
The firm also saw continued growth in active client numbers, which increased by 40,000 over the period.
Meanwhile, total assets under administration hit £70bn at the end of 2016, growing by over £10bn over the year as the figure stood at £59bn on 31 December 2015.
The firm's funds have also seen strong inflows, with £481m going into the HL Multi Manager Funds, up 30% on the same period last year (£369m).
Gorham commented: "The diversified nature of the Hargreaves Lansdown business has enabled us to deliver significant growth in both revenue and profit.
"Despite macroeconomic uncertainties impacting investor confidence and net new business, clients continue to trust us with their money and benefit from our market-leading investment services.
Apart from its fund launch plans, the group is focusing on developing its technological proposition this year, with recently launched apps, while also looking to launch its cash deposit service, HL Savings, in October.
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